DUBAI: Seeking to promote the strategic partnership between India and the UAE, a summit will be held here next month to encourage investments into specific sectors and projects in the Indian states, according to a media report.
The two-day India-UAE Partnership Summit (IUPS) will be held in Dubai from October 30 where India is expected to attract large-scale investment opportunities from the The Gulf Cooperation Council (GCC) countries, the official WAM news agency reported.
The GCC is a political and economic alliance of Saudi Arabia, Kuwait, the UAE, Qatar, Bahrain, and Oman. It was established in 1981. The Indian economy, which registered 8.2 per cent growth in the first quarter of the 2018-19 fiscal years the highest in recent history, is expected to attract large-scale investment from the GCC to India.
“We are delighted to support the second IUPS being organized by the Business Leaders Forum (BLF). Its objectives and agenda fit perfectly into efforts to promote the strategic partnership between India and the UAE,” said Navdeep Singh Suri, Ambassador of India to the UAE. “I am confident that this summit will be an important step in encouraging investments into specific sectors and projects being promoted by the participating states,” he added.
Vipul, Consul General of India, said, “I am happy that the second edition of the IUPS is being organized by the BLF this year in partnership with the consulate. The BLF did a good job in not treating the IUPS as a standalone meeting but following up on the discussions at the first IUPS in the past 12 months.”
“Last year, we announced the creation of an Emirati Investors’ Group to generate funds for investing in state-sponsored big-ticket projects that will be offered to us by invitation only,” Sudesh Aggarwal, Board Member of the BLF and Chairman of the IUPS Organizing Committee and Chairman of the India Trade and Exhibition Centre, ITEC, said. PTI
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